I recently consolidated my credit card debts and destroyed the cards. Now I'm dealing with paying the credit union back at 10.9%. I owe them approximately $8,000. Before becoming a Fool, my intentions were to open a money market account with the Credit Union. However, now I guess I need to just put all extras towards my loan and forget the savings for now. I also have $100 coming out of my check/month going towards a profit sharing account here at work (my own dollars -- they give us 4% of our salary to defer or keep -- whatever you defer, they put another 2%). Should I stop that $100 as well and put it towards my loan? Please help this fool -- I am desperately trying to get a debt free life!!!

Announcements

TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.

Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.

When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.

Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.